Total released its Q2 results. Net income is in line with consensus at $3.6bn, up 45% versus Q1 17, thanks to higher oil prices, higher production and cost savings. In Exploration and Production, net income is $2.7bn (+98% versus Q2 17). Production is up by 9% (2,700kboe/d) driven by start-ups and ramp-ups in different projects, notably Yamal LNG, Moho Nord, and Fort Hills (+7%), Maersk Oil’s contribution (+6%) and offset by heavier seasonal maintenance activity and natural decline (-4%
26 Jul 2018
Q2: successful strategy execution
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q2: successful strategy execution
TotalEnergies SE (TTE:LON) | 6,720 -2016 (-0.4%) | Mkt Cap: 160,396m
- Published:
26 Jul 2018 -
Author:
Kevin VO -
Pages:
3
Total released its Q2 results. Net income is in line with consensus at $3.6bn, up 45% versus Q1 17, thanks to higher oil prices, higher production and cost savings. In Exploration and Production, net income is $2.7bn (+98% versus Q2 17). Production is up by 9% (2,700kboe/d) driven by start-ups and ramp-ups in different projects, notably Yamal LNG, Moho Nord, and Fort Hills (+7%), Maersk Oil’s contribution (+6%) and offset by heavier seasonal maintenance activity and natural decline (-4%